Home Insurance in Chesapeake city, Virginia
With a median home value of $378,400, Chesapeake city is close to the Virginia median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Chesapeake city was built around 1989. About 10% of homes were built before 1960, about 9 points below Virginia's 19%.
Housing in Chesapeake city breaks down to 81% single-family homes, 12% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
75% of owner-occupied homes in Chesapeake city carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 74% of occupied homes in Chesapeake city are owner-occupied.
Most homes in Chesapeake city - 54% - are primarily heated with electricity.
FEMA's National Risk Index lists hurricane (Relatively Moderate), inland flooding (Relatively Moderate) and coastal flooding (Relatively Moderate) as the leading hazards for Chesapeake city.
Chesapeake city had 7,158 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Virginia is $1,537 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $378,400 |
|---|---|
| Median year built | 1989 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 75% |
| Top hazards (FEMA National Risk Index) | Hurricane (Relatively Moderate), Inland Flooding (Relatively Moderate), Coastal Flooding (Relatively Moderate) |
| Active NFIP flood policies (county) | 7,158 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)